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TABLE OF CONTENTS May 5 - 11, 2014 Volume 100 Number 12 - 0 comments

TSX moves up, April 21-25

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2014-04-30

Canada’s benchmark index gained during the week despite rising tensions in Ukraine, with the S&P/TSX Composite Index moving up 33 points to 14,533.57.

But the gold and diversified miners tumbled, with the S&P/TSX Global Gold Index falling 7 points to 187.23 and the S&P/TSX Capped Diversified Metals & Mining Index slumping 24 points to 861.99. The spot gold price added US$10.90 per oz. to close at US$1,303.80.

Nautilus Minerals was the week’s top percentage gainer, soaring 118% to 48¢ on 9 million shares traded. The boost came after the Toronto-based explorer reported that it has signed a new agreement with the government of Papua New Guinea that would allow for the resumption of development of its stalled Solwara 1 undersea copper–gold–silver project, in PNG’s territorial waters. Under that contract, the state could take an initial 15% interest in the project for US$7 million. It could boost its interest to 30% within a year, depending on certain conditions — the main one being that the government would secure US$113 million by July 2014, so that Nautilus can finish developing the project.

While the contract is a positive sign, Salman Partners analyst Raymond Goldie notes the “government participation and vessel completion are still open issues.” Goldie has reduced his target price to 75¢ from 95¢, but has a “speculative buy” on the stock.

Specialty metals-focused firm EMC Metals saw its shares rise 60% to 4¢ after closing a second tranche of subscriptions in a private placement, totalling 4.14 million shares priced at 2.5¢ apiece for gross proceeds of $103,500. The funds will go towards general working capital. The company’s management bought 52% of the placement’s total shares.

The Nevada-headquartered firm recently secured a 100% interest in a 34.7 sq. km land package that sits 24 km from its main Nyngan scandium project in New South Wales, Australia. EMC plans to explore the area for scandium and other metals.

Osisko Mining was the most actively traded stock, with 44.7 million shares changing hands to close the week down 2¢ at $7.98 per share. The junior gold producer released stellar intercepts from the first hole it drilled in the Odyssey North target, 4.5 km from its Canadian Malartic mill complex. The best intercept returned 110.2 metres of 2.85 grams gold per tonne, starting at a true depth of 1,150 metres and true thickness of 70 metres.

Goldcorp let its revised hostile offer for Osisko expire on April 22. This means Yamana Gold and Agnico Eagle Mines are closer than before in its joint $3.9-billion bid to acquire Osisko.

TSX most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Osisko Mng OSK 44784 8.03 7.46 7.98 - 0.02
Yamana Gold YRI 27695 8.82 8.25 8.38 - 0.38
Barrick Gold ABX 18295 19.88 18.92 19.74 - 0.07
B2Gold BTO 16930 3.26 2.92 3.26 + 0.25
Goldcorp G 11687 27.6 25.51 27.43 + 1.42
Torex Gold TXG 11010 1.24 1.11 1.23 + 0.08
Lundin Mng LUN 10684 5.73 5.22 5.62 + 0.37
Potash Cp Sask POT 10558 39.51 38.35 39.42 + 0.97
Agnico-Eagle AEM 9851 32.07 29.27 32.05 + 0.79
Nautilus Minls NUS 9035 0.53 0.22 0.48 + 0.26

TSX greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Nautilus Minls NUS 9035 0.53 0.22 0.48 + 118.1
EMC Metals EMC 2679 0.04 0.02 0.04 + 60
Levon Res LVN 1571 0.29 0.23 0.29 + 29.5
First Point FPX 702 0.15 0.11 0.14 + 27.2
Besra Gold BEZ 1617 0.03 0.02 0.03 + 25
Romarco Mnrls R 5449 0.87 0.65 0.86 + 22.8
Hard Creek Ni HNC 280 0.06 0.05 0.06 + 22.2
Moly Mines MOL 1441 0.1 0.08 0.09 + 20
Centamin CEE 665 1.2 0.97 1.16 + 18.3
Balmoral Res BAR 1559 0.8 0.66 0.8 + 17.6
Elemental Mnls ELM 56 0.21 0.19 0.2 - 32.7
Forbes & Man C FMC 159 0.09 0.06 0.08 - 25
Mediterrn Res MNR 366 0.03 0.02 0.02 - 20
Cerro Grande M CEG 1295 0.03 0.02 0.02 - 20
Chalice Gold M CXN 23 0.18 0.15 0.15 - 17.1
PolyMet Mng POM 164 1.5 1.21 1.25 - 16.6
Vena Res VEM 116 0.05 0.05 0.05 - 16.6
Silver Bear Rs SBR 60 0.14 0.13 0.13 - 16.1
Yellowhead Mng YMI 262 0.2 0.17 0.17 - 15
Sunward Res SWD 22 0.19 0.17 0.17 - 15

TSX greatest value change


Company Symbol Change Close Change
Tahoe Res THO 846774 24.8 + 1.69
Franco-Nevada FNV 1180855 52.48 + 1.53
Royal Gold RGL 23405 72.79 + 1.5
Agrium AGU 1224575 103.98 + 1.42
Goldcorp G 11687208 27.43 + 1.42
Detour Gold DGC 6494917 11.14 + 1.1
Russell Metals RUS 1023606 31.63 + 0.97
Potash Cp Sask POT 10558363 39.42 + 0.97
Seabridge Gold SEA 173254 9.02 + 0.91
HudBay Minls HBM 1978313 9.72 + 0.8
Horizns G Bear HGD 1824500 13.77 - 1.12
Walter Energy WLT 53947 8.2 - 0.55
Cameco Corp CCO 4361562 24.65 - 0.46
Yamana Gold YRI 27695139 8.38 - 0.38
Imperial Metal III 131261 14.26 - 0.36
PolyMet Mng POM 164256 1.25 - 0.25
Sherritt Intl S 6585899 4.67 - 0.17
Polaris Minls PLS 169485 2.82 - 0.15
Dominion Diam DDC 706852 13.78 - 0.14
Denison Mines DML 4408360 1.56 - 0.11


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